Arab Today, arab today indias infosys rides out chennai floods posts profit rise
Last Updated : GMT 23:28:49
Arab Today, arab today
Arab Today, arab today

India's Infosys rides out Chennai floods, posts profit rise

Arab Today, arab today

Arab Today, arab today India's Infosys rides out Chennai floods, posts profit rise

Infosys is listed in Mumbai
Bangalore - AFP

Indian software giant Infosys reported a better-than-expected 6.6 percent rise in quarterly earnings on Thursday, riding out the effects of deadly floods in Chennai and sending its stock soaring.

The country's second largest IT services exporter said its net profit for October to December 2015 increased to 34.65 billion rupees ($517.16 million) from 32.5 billion rupees a year earlier.

That exceeded the expectations of analysts surveyed by Bloomberg, who had expected a profit announcement of 33.5 billion rupees from sales of 157.6 billion rupees.

Infosys said in a statement that its sales had touched 159.02 billion rupees, a rise of 15 percent.

Its shares increased as much as 5.31 percent on the Bombay Stock Exchange following the announcement.

Infosys earnings had expected to take a hit from the devastating floods in Chennai at the end of the year, which killed more than 250 people, and swamped the offices of many top IT firms.
"We expected headwinds but I am extremely pleased with the strong performance and see the remaining part of the financial year to be better," CEO Vishal Sikka told reporters.

"We now expect full year revenues to rise between 12.8 percent to 13.2 percent from 10 to 12 percent earlier," he added.

Chief operating officer U.B. Pravin Rao said a "healthy pipeline" of potential deals worth $3 billion would help the Bangalore-based firm achieve its new growth projections.

Infosys signed four new major deals and added 75 new clients during the quarter, according to the statement.

India has become a back office to the world as companies have subcontracted work to firms such as Infosys, taking advantage of the country's skilled English-speaking workforce.

Infosys is listed in Mumbai and New York and was once seen as the bellwether of India's flagship outsourcing industry and the country's equivalent to Microsoft.

But it is now engaged in a tough battle to regain the top spot from Tata Consultancy Services which also beat quarterly profit expectations in results announced on Tuesday.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today indias infosys rides out chennai floods posts profit rise Arab Today, arab today indias infosys rides out chennai floods posts profit rise

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday